Hwang Bock Young, President of istek of Inc. have an interview with in Sep. 2005  

Vol. 18. NO.9. September 2005
UP-AND-COMING COMPANIES

Hwang Bock-Young, president of istek, Inc., says that he takes a great pride in the company's technological advancement in water quality measuring and environmental protection equipment. He recently told The Korea Post that istek will continue to heavily invest in the field of technological innovation for development of a next-generation of products. A summary of the interview is as follows:

Q: Would you like to review istek's achievements?
A: Since its inception in 1996, istek has made significant progress in development of various equipment in the fields of environment, chemistry, medical science, biology, food, medicine, metal engineering, oceanography and agriculture. As a result, the localization of relevant equipment has contributed to stabilizing their prices in the domestic market, which had been dominated by foreign suppliers no long ago.
istek has proved its technological excellence by acquiring many types of quality assurance, such as ISO9001, EM (Excellent Machine), GD (Good Design) and CE (Certificate of Excellent quality products). We have local branches, along with 15 global agencies dedicated to promoting our products. Based on its accumulated technology, istek became the first Korean company to develop high-quality water analyzers. Also noteworthy is the fact that, istek, albeit small in size, has been in the black for eight consecutive years.

Q: What are your main products?
A: Our major products are water quality analyzers for labs and which are portable. There are 70 models of various types. As a result, our clients can have wider choices of our products. Our major products include pH/Dissolved Oxygen/Conductivity/COD/Turbidity Meter/Auto Tele-metering System.
PDC70N, a leading model, is a portable water analyzer for pH/ISE, DO (Dissolved Oxygen) and conductivity at a same time. pH can be switched to auto and hand-controlled functions. Precise measurement of conductivity is possible along with measurement of degree of salt in waters. It can be managed with each as it features a self-diagnosis function. More than 210 data can be stored, while easy measurement of DO is assured.

Q: What is your core competence that sets your company apart from your competitors?
A: We have applied future-oriented and ergonomic designs in carrying out a design innovation technology program in alliance with e-Design Academy. What is more, we have achieved greater momentum in displays through the application of color LCDs. As a result, our products are now better positioned to satisfy the changing needs of clients than foreign-made ones. Since we have developed new, distinctive technologies, we can afford to extend technological support to domestic clients, in comparison to importers of foreign-made products. At present, istek undertakes a rigorous education program on the importance of customer satisfaction. We seek to become the No. 1 firm in terms of customer services.

Q: Could you discuss your PR and marketing strategies?
A: We participate in various international exhibitions related to water quality and environmental technology every year. Of particulate note, we take part in ENVEX (International Exhibition of Environmental Technologies). We also capitalize on the Internet to publicize our products and explore overseas markets. In Korea, we go extra miles to publicize the advantages of the diverse range of our measuring equipment through news media.

Q: How would you describe your exporting activities?
A: Currently, our annual foreign sales amount to approximately 3 billion won. Last year's exports accounted for about 30% of our total sales. We are determined to raise this figure to 60% in the near term. istek actively takes part in major international exhibitions held in advanced countries and publicize our technological excellence. Our products are now shipped to 16 countries, including the United States, Canada, Germany, Italy, Thailand, Malaysia, Singapore, Taiwan, Vietnam and Indonesia. istek is striving to augment its overseas sales network in order to reinforce its marketing activities in China and other countries with greater growth potential.

Q: Do you have any immediate plans to invest substantially to boost your competitive edge in domestic and overseas markets?
A: We have virtually no rivals in Korea in portable water quality measuring and laboratory instruments. About 10 firms produce water measuring instruments for industrial use. Based on its accumulated technological expertise, istek plans to advance into the field of industrial measuring instruments. We have already completed development of state-of-the-art integrated water measuring instruments and auto tele-metering systems. As a result, we will concentrate our investment on the field of higher value-added products.
Although istek has continued to expand its presence in the Korean market, it is no secret that foreign products still occupy a significant portion in the market. Given this circumstance, it is natural that we should focus on foreign manufacturers. While limited in output, we will continue to expand our production capacity and thus enhance our price competitiveness. Upgrades in technology are also essential to securing cost competitiveness. We will set up an efficient after-sales system in a bid to swiftly respond to demands of consumers and explore niche markets in Korea.

Q: Do you have any long-term development goals?
A: We will remain focused on development and production of instruments related to water quality and environment protection in the years ahead. Although the analyzers sector remains weak in Korea, these products could register vast growth when they are integrated with BT and IT including medical devices and high technologies. istek will aggressively move to develop new technologies, judging that only technologically advanced products would be able to secure sustained growth.